AØKA08030U History of Economic
Thought

The course gives students the opportunity to familiarize
themselves with the development of economic theory from Adam Smith
to the 1970s. Obviously, only the major writers and the most
controversial issues will be taken into account.

The basic philosophy of this courses stems from the selected
textbook – that economics is an emerging science, where evolution
happens continuously. We see how the major concepts have been
suggested, constructed, and further developed.

The textbook will be the frame of the course. It will be read by
participating students and discussed at the lectures. We will
also have a discussion of the recent Thomas Piketty challenge
related to capital and labor – a central theme in the history of
economic thought.

The midtterm and exam papers will be based on independent
research of relevant literature (the expositions can be focusing on
writers – i.e. Wicksell – or themes – i.e. the evolution of the
idea of external effects).

Participating students should obtain an overview over economic
thinking and will understand in broad terms how economic theory has
evolved over time

The course should enable students to see the historical and
theoretical preconditions for contemporary economic
theory.

Students must be able to work not only with textbook material
but also with examples of original texts.

Coming so far, participating students will have a deeper
understanding of the power and coherence of economics and thereby
realizing the said science’s limitations as well as strengths when
working with real life issues.

Skills:

Depending on a successful completion of the course, students
should be able to understand the process that creates economic
theory and to read, analyze and understand historical
texts.

Participating students, therefor, will receive skills that
complements their learning in other economics
courses.

Competencies:

One may become a splendid economist without doing history of
economic thought; however, the aim of the course is that
participants should obtain a deeper, yet more critical approach to
the implementation of economic.

Students will learn to work with issues in the history of
economic thought based on knowledge of basic economic
theory,

Students will learn to read and digest selected works in the
history of economic thought and

Students will be able to frame historically given economic ideas
and theories into a contemporary theoretical context.

By means of this backbone, students successfully completing
this course will be able to work with economics in a humbler, more
critical and therefore safer way!

2 years of economic theory
is required equivalent to Microeconomics II (Micro B) and
Macroeconomics II (Macro B) in the BSc programme of Economics at
Copenhagen University. This is needed in order to be able to
participate in and understand the course's discussion of
economic thinkers' ideas and texts. Participating students must
be able and willing to write and speak in English.

Notice! This course is not an introduction to economics but a
reflection upon the development of economic ideas. All participants
must have a solid background in economic theory.

Autumn 2016: The take-home re-eksame takes
place February 8, 2017 at 10.00 AM to February 15,
2017 at 10.00 AM

Spring 2017: The take-home re-eksame takes
place August 26, 2017 at 10.00 AM to September
2, 2017 at 10.00 AM

If only a few students have registered for the re-exam, the exam
might change to an oral exam including the date, time and
place for the exam, which will be informed by the
Examination Office.

Criteria for exam assesment

Students are assessed on the extent to which they master the
learning outcome for the course. So when grading the exam paper the
emphasis is the obtained knowledge, the obtained skills and the
acquired competencies.

To obtain the grade of 12, one must possess a strong overview of
the history of economic thought and a good command of original
texts (Their knowledge). Students will also be able to put the
material covered convincingly to use in real life work and while
doing other courses (their skills). The ability to work deeper and
more critical is also weighted in (the competencies).

When these elements are mastered error-free and convincingly,
the grade 12 is awarded. When the mastering of these components is
considered just acceptable, the grade 02 is
given